Registration number: 02408886

Oasis Musical Instruments Limited

Contents

Company Information	1
Abridged Balance Sheet	2 to 3
Notes to the Unaudited Abridged Financial Statements	4 to 9

Oasis Musical Instruments Limited

Company Information

Director

Mr HS Gillespie

Company secretary

Mrs Y Gillespie

Registered office

4 Cedar Park Cobham Road Ferndown Industrial Estate Wimborne Dorset BH21 7SF

Accountants

Ward Goodman Accountancy Services Ltd Chartered Certified Accountants4 Cedar Park Cobham Road Ferndown Industrial Estate Wimborne Dorset BH21 7SF

Oasis Musical Instruments Limited

(Registration number: 02408886)
Abridged Balance Sheet as at 31 July 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	1,625	1,885
Tangible assets	5	1,101	1,516
		2,726	3,401
Current assets
Stocks		90,713	89,139
Debtors		66,472	64,442
Cash at bank and in hand		20,398	27,649
		177,583	181,230
Prepayments and accrued income		14,314	14,171
Creditors: Amounts falling due within one year		(105,788)	(113,407)
Net current assets		86,109	81,994
Total assets less current liabilities		88,835	85,395
Creditors: Amounts falling due after more than one year		(22,102)	(27,679)
Accruals and deferred income		(133)	(169)
Net assets		66,600	57,547
Capital and reserves
Called up share capital		62,600	62,600
Share premium reserve		5,000	5,000
Capital redemption reserve		12,500	12,500
Retained earnings		(13,500)	(22,553)
Shareholders' funds		66,600	57,547

For the financial year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Oasis Musical Instruments Limited

(Registration number: 02408886)
Abridged Balance Sheet as at 31 July 2025

Approved and authorised by the director on 28 April 2026
 

......................................... Mr HS Gillespie Director

Oasis Musical Instruments Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
4 Cedar Park
Cobham Road
Ferndown Industrial Estate
Wimborne
Dorset
BH21 7SF
Dorset

These financial statements were authorised for issue by the director on 28 April 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The company's financial statements have been prepared on the basis that the company is and continues to be a going concern. The directors who are also the main shareholders have provided suitable security to the company's bankers and financiers to enable them to continue support for the foreseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Oasis Musical Instruments Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Improvements to property	33% on cost
Plant and machinery	15% on reducing balance
Fixtures and fittings	15% on reducing balance
Computer equipment	33% on reducing balance

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer and website is being amortised evenly over its estimated useful life of ten years.

Oasis Musical Instruments Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Oasis Musical Instruments Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2025

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

4	Intangible assets

	Total £
Cost or valuation
At 1 August 2024	2,600
At 31 July 2025	2,600
Amortisation
At 1 August 2024	715
Amortisation charge	260
At 31 July 2025	975
Carrying amount
At 31 July 2025	1,625
At 31 July 2024	1,885

Oasis Musical Instruments Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2025

6	Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are financial commitments of £30,592 (2024 - £35,314). At the balance sheet date, the company had commitments in respect of unpaid net wages of £2,814 (2024 - £Nil) and credit cards of £Nil (2024 - £1,981).

The company also had bounce back loan commitments at the financial year end totalling £27,778 (2024 - £33,333).

There were no other financial commitments, contingencies or guarantees made on behalf of the director.

Included in the balance sheet are pensions of £143 (2024 - £132). The company operates a money purchase pension scheme for the employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £143 (2024 - £132) were due to the fund.

7	Related party transactions

Transactions with the director

2025	At 1 August 2024 £	Repayments by director £	At 31 July 2025 £
Mr HS Gillespie
	372	(372)	-

2024	At 1 August 2023 £	Advances to director £	Repayments by director £	At 31 July 2024 £
Mr HS Gillespie
	3,484	372	(3,484)	372

Loans to the director are unsecured, interest free and repayable on demand.